IFM Investors Pty Ltd Cuts Stock Position in PulteGroup, Inc. (NYSE:PHM)

IFM Investors Pty Ltd decreased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,939 shares of the construction company’s stock after selling 1,275 shares during the period. IFM Investors Pty Ltd’s holdings in PulteGroup were worth $7,598,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Swedbank AB acquired a new stake in PulteGroup during the 1st quarter worth approximately $68,985,000. Hsbc Holdings PLC raised its stake in shares of PulteGroup by 19.6% in the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after acquiring an additional 250,937 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in PulteGroup by 8.6% in the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after purchasing an additional 235,826 shares during the period. Allspring Global Investments Holdings LLC grew its stake in PulteGroup by 35.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company’s stock worth $123,649,000 after purchasing an additional 223,841 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in PulteGroup by 130.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock worth $46,837,000 after purchasing an additional 219,609 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Trading Down 2.5 %

Shares of PulteGroup stock opened at $132.47 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.73. The company has a market capitalization of $27.86 billion, a P/E ratio of 10.61, a PEG ratio of 0.55 and a beta of 1.62. PulteGroup, Inc. has a 1 year low of $71.20 and a 1 year high of $149.47. The company’s fifty day moving average is $137.14 and its two-hundred day moving average is $123.16.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. The firm had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company posted $2.90 earnings per share. Analysts forecast that PulteGroup, Inc. will post 12.9 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Tuesday, September 17th. PulteGroup’s dividend payout ratio is presently 6.41%.

Insider Buying and Selling

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the transaction, the chief financial officer now owns 89,323 shares in the company, valued at approximately $12,043,420.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the sale, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the completion of the transaction, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,000 shares of company stock valued at $15,814,039 over the last three months. 0.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PHM has been the subject of a number of analyst reports. Citigroup lowered their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Royal Bank of Canada increased their price objective on shares of PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on shares of PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Raymond James increased their target price on PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Evercore ISI decreased their price target on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and a consensus price target of $145.00.

PulteGroup Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.